US Congressman Proposes Bill to Curb Insider Trading in Prediction Markets

The statement is strongly supported by multiple, consistent, and authoritative sources. A high-authority source from the Public Gaming Research Institute, citing a reputable congressional journalist, directly confirms the existence of a proposed bill named the "Public Integrity in Financial Prediction Markets Act of 2026" and states its specific purpose is to curb insider trading. This is corroborated by another highly relevant source, a news article from Federal News Network, which identifies the bill's sponsor as Rep. Ritchie Torres and confirms its intent to ban federal officials from using nonpublic information to trade in prediction markets. Further support comes from two lower-authority but highly relevant sources (a Substack newsletter and a blog post) that also report on a Congressman's plan to introduce such a bill. There are no contradictions among the relevant sources. Other provided materials were either irrelevant to the specific claim—focusing on general legality, sports betting, or unrelated topics—or provided only broad context about the regulation of prediction markets without mentioning a specific congressional bill. The consistency across several independent sources, including highly credible ones, makes the statement very likely to be true.